OHFA 2021 Third Quarter Agency at a Glance

OHFA UPDATE - PAGE 4 - 2021 THIRD QUARTER OFFICE OF MULTIFAMILY HOUSING On Friday, Aug. 13, the Development division announced the 2021 Bond Gap Financing Awards. OHFA awarded $25.6 million in funds to 12 projects; seven new construction and five preservation, which included 1,010 affordable housing units, serving families and seniors. Among the developments that received funding was Woodhill Station East, a 69-unit new construction development for families in Cleveland. This is the third phase of the Woodhill Station redevelopment, which was also awarded a HUD Choice Neighborhoods Implementation grant to revitalize Cleveland’s Buckeye-Woodhill neighborhood. In Columbus, Easton Place Homes Phase II also received BGF funding. This second phase will create 100 units of affordable housing for families in an area of opportunity. The first phase was funded in the 2021 9% Competitive Housing Tax Credit round. When all phases are complete, there will be 200 units of affordable housing. The site is within a mile of 24,000 jobs. 2022-2023 QUALIFIED ALLOCATION PLAN APPROVED BY OHFA BOARD The OHFA Board approved the 2022-2023 Qualified Allocation Plan at the Sept. 15 Board meeting. The Internal Revenue Code dictates that every agency that allocates Low Income Housing Tax Credits must have a QAP to outline the policies, requirements, and competitive criteria for both 9% and 4% projects. It is intended to encourage the type, location, and tenancy of affordable housing most needed in the state. The QAP must also consider the impact of the policy priorities on development costs and long term operating costs. Allocating agencies are required to consider 10 statutory selection criteria: project location public housing waiting lists housing needs characteristics tenant populations of individuals with children project characteristics projects intended for eventual tenant ownership sponsor characteristics energy efficiency of the project tenant populations with special housing needs historic nature of the project STAFFING UPDATE Dr. Cody Price has joined the office as a Housing Grant Analyst II. Prior to joining the Office of Multifamily Housing, Cody worked in the Agency’s Office of Research and Analytics. Prior to joining OHFA, he was a Visiting Assistant Professor at The Ohio State University. He is certified by the National Development Council as a Housing Development Finance Professional. He holds a Ph.D. in City and Regional Planning from Ohio State and was awarded the 2018 Patricia Burgess award for best dissertation for “Alleviating Affordable Housing Stigma by Design.” DEVELOPMENT DIVISION UPDATE SAMANTHA MAKOSKI PROGRAM & POLICY MANAGER